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Donors Tax

Principles
-imposed on donations intervivos
-supplements estate tax = by preventing the avoidance of the latter through the
device of
donating the property during the lifetime of the deceased

nature- it is a priviledge = thus a thus a tax on such privilidege

requisites
-capacity
-intent
-delivery
-acceptance

considered as donations
1. transfers for insufficient consideation
2. condonation or remission of debt
3. gifts given out of gratitude
4. renunciation in favor of other heirs

Transfer for less than adequate and full consideration sec.29 of ra no 10963
-general rule: considered as gift
-exception: if the transfer was made in the ordinary course of business regarrdless
of the
fact that the selling price is a cheaper than the fmv, hence it is not subject to
donors tax

classifications
1. citizens or residents
2. non-resident aliens

rule on reciprocity

determination of gross gift

valuation of gifts made in property

taxable base = fmv as determined by the commission of bir or fmv as shown in the
latest
schedule of the values of the provincial and city assessor whichever is higher

-if no zonal value, the taxable base is the fmv that appears in the latest tax
declaration

tax credits
-who can avail- resident citizen, non resident citizen and resident alien

non resident alien =cannot avail because there is no risk of double taxation as we
do not
subject it to donor's tax

limitations on the tax credit

deductions from gross gifts


1. encumbrance assumed by the donee
2. diminutioon of gift provided by the donor
3. donations to the national government
4. donation to non-profit organizations

donor's tax return